Money market funds look to pass on losses FT. What a great way to start a bank-style run in the multi-trillion dollar money market fund industry. Just tell depositors they may not get all their money back. What could go wrong?

IA. Stimulus: “The real failure of the stimulus was that it should have been larger and more targeted toward spending with the biggest ‘bang for the buck’ in a weak economy.” Strong but Kool Aid-free D.

NY. Fracking: “If this is what a best practice management failure looks like, I wonder what a complete disaster would be. But maybe we can use our imaginations here without much of a stretch. Add some dead belly-up brown spotted and feminized male fish, or some greasy-looking dead flora, or some methane bubbles, or somebody’s kid swimming a mile away getting really sick.”

PA. Wretched excess: “The Kimmel Center reopened its Dorrance Hamilton Rooftop Garden today, after more than $6 million in renovations. [T]the room seats about 200 people and will be used for weddings and other private functions” (where the money came from). …Extractive economy: “[I]f Royal Dutch Shell builds a petrochemical plant along the Ohio River [it] means jobs. This cracking plant, fed by the Marcellus Shale natural gas boom, would take the place of a zinc smelting plant moving operations to a new smelter in NC. The school district would lose $275,000 in property taxes if the plant site becomes a Keystone Opportunity Zone. If the plant does what it’s supposed to do, many of the children of this plant’s workers will be landing in a district that already has its middle and primary schools at capacity. Of course, managing an enrolment boomlet beats watching an exodus. The cracker plant would be exempt from state taxes, too, a break that would last 15 years. There’s another 25-year tax break on the ethane purchased for the facility, too.” At the state level, taxes do fund spending.

TX. Voting: “So as you know, [TX] had its rear end handed to it in both the redistricting and voter ID preclearance lawsuits. Both of these rulings will be appealed to the Supreme Court, with the ultimate goal being a constitutional challenge to Section 5 of the Voting Rights Act, which is the provision that requires Texas and some other former Confederate states to undergo preclearance. The argument that Texas and these other states are making is that it just isn’t fair that they have to go through these extra steps and get subjected to this extra scrutiny that other states do not. The irony, of course, is that these two ruling should make it abundantly clear why Section 5 is still needed.” OK. … Climate: “West Nile virus illnesses in TX continue to rise dramatically, state health officials said Tuesday, with the number of cases this summer rising to 1,013 — with 40 deaths — as an Austin man became the second in Travis County to die from the mosquito-borne disease. That is a 58 percent increase in cases and 74 percent increase in deaths.”

WI. Walkeristan: “[C]ounty employees recently received checks of as much as $8,000 in back pay, plus interest, for lost wages as a result of mandatory unpaid furloughs. Not bad pay for time the staffers didn’t actually work. The furlough days were imposed in 2010 as an emergency measure by Gov. Scott Walker, then the county executive, and the County Board. Courts have since ruled that the furloughs violated the terms of county contracts. Total doled out this month by county taxpayers as a result: $4.5 million.” See, there’s your problem. Contracts.

Outside baseball. Affirmative action: “Empirical evidence that we and others have carefully laid out shows [t]hat many universities are using racial preferences that are larger and more mechanical than those used before Grutter, and that — whether schools call their admissions “holistic” or not — race is being applied in a uniform way to all persons who can plausibly (and sometimes implausibly) be counted towards racial balancing objectives.” Sounds like NCLB. … Under the Surface: “Running from southern WV through PH Ohio, across central and northeast PA, and into NY through the Southern Tier and the Catskills, the Marcellus Shale formation underlies a sparsely populated region that features striking landscapes, critical watersheds and a struggling economic base. It also contains one of the world’s largest supplies of natural gas, a resource that has been dismissed as inaccessible–until recently.” … Adequate emotion: “Yuck!”

The trail. Democrats: “The real target, the non-base ‘undecideds,’ are not quite getting it, the real nature of the choice. Most of them are bumbling along, uneasy about the economy [Shocking!], thinking (even if they voted for Obama in ’08) ‘where’s the change?’ [good grief!] and ‘Obama’s had his chance, maybe it’s time to let the other guys have a turn.'” I don’t know why Ds consistently insult voters whose support they seek. But they do it over and over again. “Bumbling”!?!?

About Matt Stoller

From 2011-2012, Matt was a fellow at the Roosevelt Institute. He contributed to Politico, Alternet, Salon, The Nation and Reuters, focusing on the intersection of foreclosures, the financial system, and political corruption. In 2012, he starred in “Brand X with Russell Brand” on the FX network, and was a writer and consultant for the show. He has also produced for MSNBC’s The Dylan Ratigan Show. From 2009-2010, he worked as Senior Policy Advisor for Congressman Alan Grayson. You can follow him on Twitter at @matthewstoller.

Friends;
Here in the Deep South, one of the young women I work with at the DIY Boxxstore was coughing and miserable last night.
“How you feeling T?” I ask.
“Miserable, the doctor told me this morning the tests say I have that West Nile.”
“Shouldn’t you be home in bed?”
“Nah. I can’t afford to. Plus, they’re giving me these antibiotic injections.”
“Injections plural?”
“Yeah, plural.” ‘Cough, cough.’

Mr. Strether;
I’m located in Hattiesburg MS, half way between the Gulf Coast and Jackson MS, the state capitol. The young woman I referred to lives in a rural area just Northeast of here called Sumrall.
As to the symptoms, she did have a cough, but also the killer headache and chills. When I see her again, I’ll ask her if the doctor did the blood test or not. There has been an explosion of mosquitoes around here due to the wet and hot conditions. Lots of standing water about. I kill a bunch every time I go out back to dump the compost from our kitchen into the pit. Usually when they are biting me! The state government has admitted to there being a ‘larger than usual’ number of West Nile cases this year in the state.
As to the implied medical serfdom theme in my earlier comment; yes indeedy folks! I’m not the only geezer who admits to keeping an admittedly rotten job just for the medical insurance benefits! I hear a lot more younger folks sounding that plaint too.
My wife tells me I should write a book about the picaresque adventures encountered in my labours for the big Blue Box Store. I’m sure that I’m not alone in this.
Anyway, as I tell my wife when she laughs at my frantic attempts to flail away the miserable mosquitoes, she being possibly unpalatable to them, they seldom bite her; “Here now, you tell me how to live in the South and not get bitten up!” She just laughs harder. Blast!

Yeah. Health care (as distinct from health insurance) is really going to become important when some disease like SARS gets dug in amongst the busboys and parking valets. People living in the range where paying for effective treatment — or maybe even just taking time off work while sick — could mean going without food or living in the street.

Well, I mean, it’s important now, but the nation will pay attention once that finally happens.

The symptoms of West Nile, as explained to me by my doctor one year when I presented with something similar, are severe stomach ache, killer headache, fever, chills, and eventually vomiting and dry heaves. No cough. The only way to diagnose West Nile is with a blood test. If you get a good case of it, you are horribly miserable and could not go to work, no way. But some do catch West Nile and have no symptoms. They develop the antibodies but are not sick.

West Nile is not contagious; you get infected by a mosquito! You can’t catch it from a human, unless you get the infected person’s blood inside you somehow.

In addition to which, antibiotics as the term is commonly used are for bacterial infections. You’d never give them for viral infections like West Nile, unless there was concern about a bacterial infection piggybacking on the viral one.

I doubt it was a conspricy just as I doubt prohibition was designed to start organized crime. But whether it was designed to or not, it obviously doesn’t work, and it costs a fortune. The damage to the constitution is the unseen but greatest cost.

Of course she is… she was hand picked by the elite Dem establishment, she has no political experience and she comes across as too lecture-y (being a Hahvahd prof not advantageous here). When the prez didn’t give her the job she should have gotten, her consolation prize was to run for the MA senate. How does any of this qualify her to represent the people of Massachusetts? or endear her to them? This is very much a Washington elite versus local-boy-done-good election.

And when Obama & co. put her into the MA senate race, that sucked all the air out of the room for all the local MA Dem politicians who wanted to run for that seat. I have noticed that none of the other potential Dem candidates have done any political ads for her. She’s a national figure, not so much a local one.

This is not to say I don’t like Warren, and if she ends up winning I’ll be fine with that. But I’m voting for Brown, again. When I voted for him the first time it was an FU vote. Now I’m voting for him because I find him an interesting character and I want to support the local guy who worked his way up the state ranks and has more loyalty to MA than to DC (even though I don’t agree with him on everything). Also Brown is NOT a typical Republican (a good thing) and Warren is a very typical Dem (boringly predicatble liberal).

IMO, this senate race is not ugly (in comparison to many others I’ve seen)… though it has often been petty. But that’s politics for you!

Losing “the Liberal Lion of the Senate” Ted Kennedy’s seat to an unknown in 2010 was another of Obama’s many signature achievements — a glaring signpost to the death of the Democratic Party (as we knew it). That event and Obama’s single-handed resurrection of the GOP in 2010, when just a primitive wooden cross would have sufficed to mark the bones, was a remarkably underappreciated coup for Wall Street by their Trojan horse Achilles.

Anyway, why vote for a Republican disguised as a progressive when you can just vote for the real deal? Unless it’s just a sympathy vote. Warren is indeed a pitiable character, having sold her soul to the great deceiver as cheaply as Schneiderman.

Don’t think I said that, so I’m guessing you and I approach political language differently. btw, I do not use words like “support” or “approve” when talking about politicians, I only use them with friends and family. Those words imply tribal loyalty, something I no longer do when it comes to politics. I belong to no political tribe and never will again. I am not looking to politicians to meet any sort of idealistic expectations nor to be foci for blame. To me politics is not so much about principles and ideology as it is about power and money and realpolitik. My voting for Scott Brown only means that after some analysis I prefer him over Warren, given the existing conditions, and nothing more. Actually I feel fortunate to have 2 decent candidates to choose from. Besides if Warren loses this election she can run again soon when Kerry resigns to become the next Secretary of State. I’d be happy with both Warren and Brown as MA senators :)

OK… my bad rezlez… I have to confess using the word ‘support’ in my original comment. Damn, I’ve been trying not to do that… it’s hard to shift paradigms… my only excuse is the context… I said I was the supporting “the local guy” meaning that ended up being the deciding criteria.

Now I’m voting for him because I find him an interesting character and I want to support the local guy who worked his way up the state ranks and has more loyalty to MA than to DC (even though I don’t agree with him on everything).

According to Alexander’s history, there is no Malcolm X or George Jackson, no Frantz Fanon, no Richard Wright, no Eldridge Cleaver, no Angela Davis, no Huey P. Newton, no Bobby Seale, no Black Panther Party, no Black Power Movement, no self-determination, no prison-struggles, no political prisoners, no, no, no.

Suspiciously there is almost no 1960’s, no 1970’s, no Black History, no Black Criticism, no Black Radicalism, no radicalism, no class struggle.

There is no serious or sustained critique of colonialism, imperialism or capitalism. There is no discussion of international law, implicit racism, of privileged ignorance or prosperity, no acknowledgment that the likely champions of the text are the direct and continued benefactors of the “caste system” they so deplore. There is no connection to any of this. None.

There is no connection to any of this because when Nixon and Agnew cooked up the evil idea of a federal war on drugs, they didn’t give a flying fug about ‘colonialism’ or any of the intellectual pocket lint on Osel’s half-baked laundry list.

Nor did New York’s little general Michael Bloomberg take the slightest notice of ‘black criticism’ in authorizing the NYPD to order random black and hispanic pedestrians to empty their pockets, and then arrest them for violating a New York statute prohibiting the public display of drugs.

New York’s harsh law is designed for the eminently pragmatic purpose of keeping upstate prisons filled to ‘create jobs,’ not to provide fodder for pseudo-intellectuals to bloviate about Frantz Fanon and Richard Wright.

Jealous of Alexander’s book’s mainstream success, Osel argues that she should have larded it with the stale radical rhetoric of 1960s academia. This would have ensured sales of perhaps 300 copies, with the remainders flogged off on Amazon for $0.01.

Jim, I wouldn’t be so derisive toward Osel. I agree, his field is kind of fluffy, but that fluff can be powerful. I wouldn’t be surprised if Alexander read much of, and drew ample inspiration from, Fanon, Wright, Malcolm X, et al. She’s a radical like them, just a different type of radical.

You’re right regarding the NYPD’s shocking unfamiliarity with afrodiasporic metaphysics, but that doesn’t mean Alexander couldn’t have paid more lipservice to black radicalism. That criticism is relevant given, for instance, the fact that Alexander made little mention of COINTELPRO and its attack on black radicals as a prelude to militarization of inner cities. The importance of black radical thought is essential to this and other episodes in the creation of the New Jim Crow.

All of that said, yes, Osel’s criticism is silly; but no, you shouldn’t call him a “bitter black loser.”

Before segregation most Americans were happy to ignore the sky-high black crime rates since most of it was black on black. But with the invisible walls of segregation falling down, such disparities in crime rates (both perp and victim) were too much for non-black communities to live potentially in close proximity to. So the “war on drugs” was launched as a euphemism for what it really was: a war on black crime (since that branding would have obviously been harder to sell). And at great expense, there has been some success. Even as late as 1990, 40 blacks per 100,000 were getting murdered compared to 6 per 100,000 for whites. And the murder offending rate was 51 per 100,000 for blacks which was ten times higher than the white rate of 5 per 100,000. With a huge policing effort disguised as a “war on drugs” that stains the civil liberties of all; black murder rates have been HALVED to about 20 per 100,000. Some of this reduction would be due to improved emergency room techniques, but still, there is no doubt that black violent crime has shown some reduction – the white rates have stayed stable all this time. In any case that’s a whole lot of black people each year who are NOT getting killed. What does Professor Osel have to say about this?

So it must be nice to be a black studies professor; even if people took what he said seriously and stopped the war on black crime and emptied the prisons of all brothaz, the result would be skyrocketing murder rates in black communities and then this professor could bitch about how evil YT refuses to spend any resources policing black communities and protecting black victims of crime!

I’m more offended by the Linker’s editorial approval of Osel’s review than the pompous review itself. Mr. Osel asks — “Could one write a book about the rain, but never mention the weather?” Yes, if you show that it gets you wet.

Lambert, thanks for the links related to slashing local safety-net programs, such as to the Tampa Bay article on Food pantries:

“The allotment [of government food] for the needy plummeted this year….We had been getting six or seven items, protein, carbohydrates, vegetables, fruit. Sometimes there is milk. We rejoice when there’s peanut butter…Since the middle of July, we’ve seen a significant increase in the number of women and children…”

Yeah, they just can’t seem to find any money to give milk or fruit to women and children in dire straits, but
when it comes to bailing out the bankers or buying another F-35 Joint Strike Fighter (expected to cost $1 trillion for development, production and maintenance over the next 50 years), well, that’s another story, the money’s always there for things like that.

In Matthew Arnold’s poem “West London”, he describes a destitute woman who uses her daughter to beg for her, but does not expect any help from the rich. She looks to the labouring classes for help, as they’re the ones who understand her need:

“Crouch’d on the pavement close by Belgrave Square
A tramp I saw, ill, moody, and tongue-tied;
A babe was in her arms, and at her side
A girl; their clothes were rags, their feet were bare.
Some labouring men, whose work lay somewhere there,
Pass’d opposite; she touch’d her girl, who hied
Across, and begg’d and came back satisfied.
The rich she had let pass with frozen stare.
Thought I: Above her state this spirit towers;
She will not ask of aliens, but of friends,
Of sharers in a common human fate.
She turns from that cold succour, which attends
The unknown little from the unknowing great,
And points us to a better time than ours.”

Here we have an instant classic: whitewashed language, whitewashed social relations, whitewashed history, whitewashed brutality, a vast rhetorical and historical facelift where the most relevant and affected voices on the topic at hand are safely expunged from the discussion, from relevance, from history [p. 3].

I have the same reaction to some of my fellow white liberals, progressives, and even radicals who speak out against national security depradations in general, and to NDAA activists in particular.

Just the other day, a prominent NDAA activist on Twitter asked rhetorically, will it take people disappearing overnight for people to become concerned about NDAA? I answered, it will take the right people disappearing: white middle-class or elite people, because people of color have been disappearing overnight for generations. I asked for his thoughts on Cornel West’s thesis of niggerization with regard to NDAA.

CORNEL WEST: So, 40 years later, we come back to commemorate this struggle against the historical backdrop of a people who have been so terrorized and traumatized and stigmatized that we have been taught to be scared, intimidated, always afraid, distrustful of one another, and disrespectful of one another. But the Attica’s rebellion was a countermove in that direction. I call it the niggerization of a people, not just black people, because America been niggerized since 9/11. When you’re niggerized, you’re unsafe, unprotected, subject to random violence, hated for who you are. You become so scared that you defer to the powers that be, and you’re willing to consent to your own domination. And that’s the history of black people in America. That’s the history of black people in America. [http://www.democracynow.org/2011/9/12/attica_is_all_of_us_cornel .]

I think NDAA niggerizes Americans who have never been niggerized before. I think white middle-class Americans now are getting a taste of the terror under which many of of our brothers and sisters have lived all this time. I think West’s niggerization heuristic offers much needed historical context for NDAA activists, among others.

Here we have an instant classic: whitewashed language, whitewashed social relations, whitewashed history, whitewashed brutality, a vast rhetorical and historical facelift where the most relevant and affected voices on the topic at hand are safely expunged from the discussion, from relevance, from history [p. 3].

I have the same reaction to some of my fellow white liberals, progressives, and even radicals who speak out against national security depradations in general, and to NDAA activists in particular.

Just the other day, a prominent NDAA activist on Twitter asked rhetorically, will it take people disappearing overnight for people to become concerned about NDAA? I answered, it will take the right people disappearing: white middle-class or elite people, because people of color have been disappearing overnight for generations. I asked for his thoughts on Cornel West’s thesis of niggerization with regard to NDAA.

CORNEL WEST: So, 40 years later, we come back to commemorate this struggle against the historical backdrop of a people who have been so terrorized and traumatized and stigmatized that we have been taught to be scared, intimidated, always afraid, distrustful of one another, and disrespectful of one another. But the Attica’s rebellion was a countermove in that direction. I call it the niggerization of a people, not just black people, because America been niggerized since 9/11. When you’re niggerized, you’re unsafe, unprotected, subject to random violence, hated for who you are. You become so scared that you defer to the powers that be, and you’re willing to consent to your own domination. And that’s the history of black people in America. That’s the history of black people in America. [http://www.democracynow.org/2011/9/12/attica_is_all_of_us_cornel .]

I think NDAA niggerizes Americans who have never been niggerized before. I think white middle-class Americans now are getting a taste of the terror under which many of of our brothers and sisters have lived all this time. I think West’s niggerization heuristic offers much needed historical context for NDAA activists, among others.

Yes, well, conscription for Vietnam led to a bloom of radical Leftist critique of the modern capitalist State, the MIC and so on (remember Marcuse?), and also to some extent helped radicalise the Civil Rights movement (“Why should I go to Vietnam? They never called me a nigger!”) but fundamentally the opposition to the war remained opposition to the war. From what I know about the US, there wasn’t much of a continuing legacy of leftist thought or radical race critique. Instead, there seems to be a legacy of “stab-in-the-back” myth – “We would have won if we hadn’t had one arm tied behind our back!”

Maybe Osel regrets this. If so, he is probably right, but trying to raise the ghosts of my generation (I am old) isn’t likely to work in the contemporary US scene.

A more trenchant Left criticism of Alexander’s book might be along the lines that it does little to correct the racial Balkanisation of the US working class. For a long time, driving wedges between the black, hispanic and white segments of the working class has been a successful tactic of the US ruling class. A unified (non-racist) working class movement is probably a nightmare for the 1% in the US. Maybe the sudden appearance of the Occupy movement attracted so much hostility precisely because it wasn’t racially fragmented. And I have often wondered whether the assassination of MLK wasn’t driven by the broadening of his movement (OK it wasn’t exlusively “his”, but I’m trying to keep this short) to include the poor of every race.

What person or movement in the contemporary US is trying to constitute a unified, non-racist working class consciousness?

Hey, past-it dogfaced egomaniac Tom Hayden’s yelling at you to eat your shit sandwich, http://www.zcommunications.org/saving-obama-saving-ourselves-by-tom-hayden . On and on about why the affordable care act sucks (it’s the right!) and he manages never to mention executive abuse of function for the insurance and pharmaceutical industries. Also blah blah antiwar blah blah, while managing never to mention the legal definitions or norms. It seems there are all these invisible secret leftists who don’t like programmatic wilful killing but they’re fine with aggression, and you just have to have peace on earth, and then US crimes of concern to the international community will take care of themselves. Or something.

Roach motel indeed. You can get another peek into the DLC’s fistula from David Atkins’ posts on Digby. The pampered soap-opera heir is cock-a-hoop with his earthshaking comological importance as he undergoes ego-up indoctrination at the Dem’s big Nuremberg Rally. He gets to lick the shoes of prominent ward heelers and factotums. He deigns to speak ex cathedra in homeschool verities about why you are a nihilist. After him, the deluge. Wave, David wave! Cheer, David, cheer! Yay! Yes, they really give a shit what you think, they really, really do!slsl

Money market funds look to pass on losses FT. What a great way to start a bank-style run in the multi-trillion dollar money market fund industry. Just tell depositors they may not get all their money back. What could go wrong?

Yikes, this will definitely get the ‘man on the street’s attention as it did when Reserve Primary Fund broke the buck in 2008. Although this time may be more like an MF Global experience rather than the backstopping similar to an FDIC guarantee which was temporarily put in place then.

This could begin the game of musical chairs. Chasing risky yields will increase. Negative 1% interest is a lot different from 1% interest. Will cash become more attractive than equity risk?

Both the Fed and the ECB have essentially just announced unlimited QE. This is sounding like the end game with a harsh ending.

Or we could just relalize that we need to come to terms with debts that can’t be repaid and that we need to focus our attention on the well-being of the 99%.

“You won’t believe what these folks are going through, Michelle…. It’s not right”

OK, he’s talking about bankers, but still…

“Democratic progressive”

An oxymoron or simply Orwellian?

“First Black President Can’t Help Blacks Stem Wealth Drop”

Can’t or won’t?

“US accuses BP of gross negligence in gulf”

The con here is that this is a civil case. If Holder were serious, he would have filed criminal charges.

Warren is a typical Establishment liberal:

She’s too Establishment to be populist, and just liberal enough to make her anathema to the Democratic leadership and their corporate sponsors.

“the ISO [Indianapolis Symphony Orchestra] wanted to cut musicians’ annual pay by almost half as part of a plan that would reduce the orchestra’s schedule from 52 to 36 weeks a year”

Isn’t that more like a 65% reduction in pay? 45% of the money for 70% of the work? .45(52/36) And they are cutting the orchestra size by 28% and doing away with the pension fund in favor of essentially 401k’s. Maybe in a few years, they can whittle the orchestra down to a one man band and charge him for playing on street corners. What? You didn’t think that the arts were immune from kleptocracy, did you?

“69% of the drop in the unemployment rate was due to people dropping out of the labor force”

If the real unemployment rate is 12.8% (my calculation), then people being defined out of the labor force would account for 35% of this rate (1 – 8.3/12.8) So the rate in Florida is twice this. Interesting.

“Durbin just told Andrea Mitchell he *knows* that the president will use Simpson Bowles as a template in 2nd term”

Well, dah! Like we haven’t been saying this for an age, or that all this election is about is whether the people screwing us over have a D or an R after their name.

History will mark Obama as the more effective evil, mainly because of the lack of opposition.

It is as useless to anchor a serious political discussion to this year’s Democratic and Republican convention speeches, as to plan the liberation of humanity during Mardi Gras. Truth is no more welcome at the former than sobriety is at the latter. So, forget the conventions and their multi-layered lies.

And now for a little Michelle O:

Most people don’t want to be a perceived as party-poopers – which is why the principled folks that have protested the evil antics of the corporate, imperial parties, in Tampa and Charlotte, are so much to be admired. Frankly, who wants to be the one to point out, in the middle of the festivities, that Michelle Obama was just a Chicago Daley machine hack lawyer who was rewarded with a quarter million dollar a year job of neutralizing community complaints against the omnivorous University of Chicago Hospitals? She resigned from her $50,000 seat on the board of directors of Tree-House Foods, a major Wal-Mart supplier, early in her husband’s presidential campaign. But, once in the White House, the First Lady quickly returned to flaking for Wal-Mart, praising the anti-union “death star” behemoth’s inner city groceries offensive as part of her White House healthy foods booster duties.

From her hometown newspaper, the San Francisco
Chronicle. They know about her there.

“Kamala failed her Brady Law requirements as our SF DA, in what can only be classified as “gross negligence.” As State AG, she “settled” for $26 billion for the bank robbery of America, comprised of over $12 trillion in questionably worthless paper now owned by the US Treasury, the FHA, Fannie May, and Freddy Mac. She settled charges against Obama’s Wall Street friends for less than 1% of the criminal systemic control fraud. This failure to reset the principal ballances on these millions in fraudulent mortgage backed securities is accomplice to the wholesale felonies and very core reason there is no “Pecora Commission” solution to the crimes of Wall Street! Arguably, Kamala is the reason 5,000 to 10,000 bankers are not in prison. How are the Counties supposed to reestablish clear title on any of the millions of MERS clouded properties required to reset our legal basis of property taxation? As hundreds of counties and thousands of cities face real bankruptcy, we now can all thank Kamala Harris for her incompetence. She is part of the San Francisco Political Machine worthy of recall and prosecution.”